Creative Planning Purchases 907 Shares of DT Midstream, Inc. (NYSE:DTM)

Creative Planning increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,655 shares of the company’s stock after buying an additional 907 shares during the quarter. Creative Planning’s holdings in DT Midstream were worth $2,746,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DTM. Dimensional Fund Advisors LP boosted its position in DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after acquiring an additional 490,613 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of DT Midstream by 1.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock worth $144,398,000 after purchasing an additional 37,463 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after purchasing an additional 38,305 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in DT Midstream by 6.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after purchasing an additional 60,370 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in DT Midstream by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after purchasing an additional 99,755 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

Shares of DTM stock opened at $84.05 on Friday. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 20.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $84.18. The company has a 50-day simple moving average of $76.31 and a 200 day simple moving average of $69.84.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, sell-side analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.50%. DT Midstream’s payout ratio is 71.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DTM. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company increased their price target on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Citigroup increased their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Barclays boosted their target price on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.00.

DT Midstream Company Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.